Innovation, Entrepreneurship, and Solving Wicked Challenges through CSR and CSV

Abstract

The Fourth Industrial Revolution has escalated innovation to new heights unseen, creating an evolution of innovation and corporate social responsibility (CSR), and as a result, a more Innovative CSR. With this evolution comes also the evolution of the ‘Preneur’ from social entrepreneur to corporate social entrepreneur and corporate social intrapreneur. It is therefore important to acknowledge that social entrepreneurship is not just for the social sector, or start-up entrepreneur – corporations can also be social entrepreneurs. This chapter establishes an understanding of this possibility alongside solving wicked problems and challenges, and how to provide collaborative networks and co-creation experiences to assist others on this journey. More importantly, the chapter discusses how corporates can assist millennials (and Generation Z) by funding and incubating their innovative or social enterprise idea under the umbrella of CSR strategy, until it is ready to be released to the world. The chapter is supported by academic literature and business publications with suggestions for future research opportunities.

Citation

Munro, V. (2020), "Innovation, Entrepreneurship, and Solving Wicked Challenges through CSR and CSV", CSR for Purpose, Shared Value and Deep Transformation, Emerald Publishing Limited, Leeds, pp. 161-201. https://doi.org/10.1108/978-1-80043-035-820200008